I have been the leasee to a home for over three years the owner decided to sale the house there was never a legal notification to me nor addressed to

Asked by lilbrenn, Pflugerville, TX Sun Nov 11, 2012

the house. the owner hired a realtor to assist in the sale of the house and the realtor assured me that I wouldn't have to move that the new owners wanted to continue leasing to me and would be by right after closing to meet with me and do a new lease. I later (about three weeks) I received a call while at work from the buyer's agent informing me with apologies that this buyer closed on the sale of the house and was purchasing under an FHA loan the agent stated that he didn't realize until that day that the guidelines under FHA state that all FHA loan are unwritten for buyer occupancy... I knew that wasn't true if he was a real realtor/agent this is a given immediately when the loan is requested. My question is is it legal to pay rent to this new buyer in any way form or fashion or will this breach his loan and will I also be illegally leasing property. This new owner came by asking for rent... I am afraid that without documents Icould pay him today and be evicted tomorrow... please

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Barbara Coker, Mortgage Broker Or Lender, San Antonio, TX
Sun Nov 11, 2012
Wow. First, I just am amazed that any Realtor would deny knowledge of FHA rules prohibiting investor loans. He just participated in a very illegal act. So the current owner just committed mortgage fraud. He signed multiples of documents warning him about the penalties for fraud. Discovery of this fraud could definitely cost him the house. Discovery of the Realtor's allowing the closing to proceed under fraudulent circumstances could cost him his license, and perhaps more. These are all facts.

We cannot offer you any legal advice on this site. As a loan officer, I can state the rules, but that is all. If you speak with an attorney, go to one that specializes in tenants' rights.

Good luck!
Barbara Coker
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas
Web Reference:  http://www.thecokerteam.com
1 vote
Carla Pennin…, Agent, Georgetown, TX
Wed Feb 6, 2013
I had the same search results as the other responders. There isn't any indication that it's listed yet for sale.
0 votes
Don Groff, Agent, Austin, TX
Sun Nov 18, 2012
First it is more than a little odd the buyer's agent would tell you that information because he would have to have knowledge of what happened.

The new buyer did commit loan fraud and to say that is a serious offense is a gross understatement as the FBI investigates mortgage fraud. Buying an investment property is a different type of loan requiring a larger down payment so they would have had to know what they were doing and wanted to avoid the extra money required and the higher interest rate.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Sun Nov 11, 2012
THEY committed fraud. Not you.
If they closed with an FHA loan, they would have been required to sign owner/occupancy documents. And the realtor denying knowledge sounds fishy

I cannot advise you on legal issues though.

I really hope that you will report all parties that you have names for to Texas Savings & Loan at this link => http://www.sml.texas.gov/
Maybe you can help see to it that no one else has to go thru this.

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes
Guy Gimenez, Agent, Austin, TX
Sun Nov 11, 2012
You should seek legal counsel, but something smells fishy here. A purchaser would have to buy the home subject to your existing lease so unless you breach the contract you can generally remain throughout the term of your lease. Hopefully, you have a copy of your lease. If the owner wants rent, he/she needs to provide you with evidence he/she owns the property.
0 votes
Bruce Lynn, Agent, Coppell, TX
Sun Nov 11, 2012
Get a lease in place.

This will protect you.
0 votes
The question seems to center around whether the new owner can rent to him since the new mortgage is for an owner occupied property.
Flag Sun Nov 11, 2012
Carla Pennin…, Agent, Georgetown, TX
Sun Nov 11, 2012
I wish we were in a position to answer your questions here, but unfortunately this is a question for an attorney. Realtors are strictly prohibited from the practice of law. Sometimes that seems like a fine line, since we deal with contracts all the time, but this goes beyond the scope of our ability to help. Please contact an attorney!
0 votes
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